ICCI lashes Petroleum Ministry on no standards for refinery industry

ICCI lashes Petroleum Ministry

ISLAMABAD: The world is moving towards Euro-7 grade fuel and we are still not producing EU-1 compliant fuel, causing serious environment hazard damage to engines and because of its low grade causing heavy burden on the consumers as well as the reason for higher oil import bill.

Yassar Sakhi Butt, President Islamabad Chamber of Commerce and Industry (ICCI) made these remarks while commenting on the news about absence of any criteria regarding fuels of Euro compliant. He said that due to lack of vision, poor performance and corruption, there is no concrete policy as far as fuel standardization is concerned. We are far behind even in our region such as India which is producing Euro-5 standard fuels.

ICCI President Lamented the Ministry policy makers as to why not the multi- millions dollar oil refining industry who are earning profit in billions are not given a time line or a target to produce at least Euro-5 compliant fuel specially diesel.He said that because of this low quality and high sulphur content diesel People have stopped buying and importing diesel cars because the low quality diesel severely damages the engines as well as causing environmental pollution. Whereas overall trend around the world especially in Europe and our neighbouring region is all together opposite, he added.

In Europe, more than 65 percent of the vehicles are on diesel and the trend is ever increasing because of low emission as well as cheap running cost while the new advanced diesel engines give extraordinary mileage, ICCI President maintained.Yassar Sakhi butt was of the view that it is a pity that the customers cannot take benefit of this new diesel technology only and only because the people sitting at the helm of affairs in the Ministry are not bothered as a result adding to the woes of the nation, environment as well as costing the national exchequer in billions.

He said that its time that someone should take serious note of the situation because business community as well as the common man is suffering due to the low quality and high cost of fuel and steps should be taken to give a strict time frame to refineries to implement these standards on war footing. – PT